The following table sets forth the estimated amounts of the current
distribution, payable May 31, 2017, and the cumulative distributions
paid this fiscal year to date from the following sources: net investment
income, net realized short-term capital gains, net realized long-term
capital gains and return of capital. All amounts are expressed per
common share.

Estimated Sources of Distributions

($) CurrentDistribution

% Breakdownof the CurrentDistribution

($) Total CumulativeDistributions for theFiscal
Year to Date

% Breakdown of theTotal CumulativeDistributions for theFiscal
Year to Date

Net Investment Income

0.0000

0%

0.0000

0%

Net Realized Short-Term Capital Gains

0.1096

27%

0.3224

40%

Net Realized Long-Term Capital Gains

0.0000

0%

0.0000

0%

Return of Capital

0.2979

73%

0.4926

60%

Total (per common share)

0.4075

100%

0.8150

100%

Average annual total return (in relation to NAV) for the 5 years
ending on 4/30/2017

4.41%

Annualized current distribution rate expressed as a percentage of
NAV as of 4/30/2017

7.07%

Cumulative total return (in relation to NAV) for the fiscal year
through 4/30/2017

0.27%

Cumulative fiscal year distributions as a percentage of NAV as of
4/30/2017

3.54%

You should not draw any conclusions about TTP's investment performance
from the amount of this distribution or from the terms of TTP's
distribution policy.

TTP estimates that it has distributed more than its income and net
realized capital gains; therefore, a portion of your distribution may be
a return of capital. A return of capital may occur, for example, when
some or all of the money that you invested in TTP is paid back to you. A
return of capital distribution does not necessarily reflect TTP’s
investment performance and should not be confused with "yield" or
"income."

The amounts and sources of distributions reported are only estimates and
are not being provided for tax reporting purposes. The actual amounts
and sources of the amounts for tax reporting purposes will depend upon
TTP's investment experience during the remainder of its fiscal year and
may be subject to changes based on tax regulations. TTP will send you a
Form 1099-DIV for the calendar year that will tell you how to report
these distributions for federal income tax purposes.

About Tortoise Pipeline & Energy Fund, Inc.

Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP) is a non-diversified,
closed-end management investment company that seeks to obtain a high
level of total return with an emphasis on current distributions. TTP
invests primarily in equity securities of pipeline companies that
transport natural gas, natural gas liquids (NGLs), crude oil and refined
products and, to a lesser extent, in other energy infrastructure
companies.

About Tortoise Capital Advisors, L.L.C.

Tortoise Capital Advisors, L.L.C. is an investment manager specializing
in actively managed essential assets investing including the energy
value chain. As of April 30, 2017, the adviser had approximately $17.0
billion of assets under management in listed closed-end funds, mutual
funds, private funds and separate accounts. For more information, visit www.tortoiseadvisors.com.

Safe harbor statement

This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these securities in
any state or jurisdiction in which such offer or solicitation or sale
would be unlawful prior to registration or qualification under the laws
of such state or jurisdiction.

Forward-looking statement

This press release contains certain statements that may include
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. All statements, other than statements of historical fact, included
herein are "forward-looking statements." Although the Company and
Tortoise Capital Advisors believe the expectations reflected in these
forward-looking statements are reasonable, they do involve assumptions,
risks and uncertainties, and these expectations may prove to be
incorrect. Actual results could differ materially from those anticipated
in these forward-looking statements as a result of a variety of factors,
including those discussed in the Company's reports that are filed with
the Securities and Exchange Commission. You should not place undue
reliance on these forward-looking statements, which speak only as of the
date of this press release. Other than as required by law, the Company
and Tortoise Capital Advisors do not assume a duty to update any
forward-looking statement.